Importers most affected by weakening Kenya shilling

Cargo containers at the Port of Mombasa. Kenya shilling expected to remain weak till after the election. PHOTO | LABAN WALLOGA | NATION MEDIA GROUP

Importers are bracing themselves for higher prices after the Kenya shilling last week hit a near six-month low due to dollar demand from oil companies, food importers and firms paying dividends to investors abroad.

The shilling is expected to weaken at least until the general election, with import demand outweighing currency inflows, barring any Central Bank dollar sales.